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Announcement Effect of COVID-19 on Cryptocurrencies

Author

Listed:
  • Nuruddeen Usman
  • Kodili Nwanneka Nduka

    (Monetary Policy Department, Central Bank of Nigeria, Nigeria)

Abstract

This study uses a fractional integration method to evaluate the efficiency of cryptocurrencies before and after the period COVID-19 had been announced as being a pandemic. Evidence of long memory is confirmed across all subsamples. Additionally, we find a greater degree of persistence during the COVID-19 pandemic period than in the pre-pandemic period.

Suggested Citation

  • Nuruddeen Usman & Kodili Nwanneka Nduka, 2022. "Announcement Effect of COVID-19 on Cryptocurrencies," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 3(Early Vie), pages 1-4.
    • Handle: RePEc:ayb:jrnael:61
    DOI: 2022/06/16
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    Cited by:

    1. Kopalle, Praveen K. & Pauwels, Koen & Akella, Laxminarayana Yashaswy & Gangwar, Manish, 2023. "Dynamic pricing: Definition, implications for managers, and future research directions," Journal of Retailing, Elsevier, vol. 99(4), pages 580-593.
    2. Zhong, Meirui & Zhang, Rui & Ren, Xiaohang, 2023. "The time-varying effects of liquidity and market efficiency of the European Union carbon market: Evidence from the TVP-SVAR-SV approach," Energy Economics, Elsevier, vol. 123(C).
    3. Zarifhonarvar, Ali, 2022. "The Effect of Covid Pandemic on Cryptocurrency Markets; A Literature Review," EconStor Preprints 266369, ZBW - Leibniz Information Centre for Economics.
    4. Salisu, Afees A. & Ndako, Umar B. & Vo, Xuan Vinh, 2023. "Oil price and the Bitcoin market," Resources Policy, Elsevier, vol. 82(C).
    5. Ştefan Cristian Gherghina & Liliana Nicoleta Simionescu, 2023. "Exploring the asymmetric effect of COVID-19 pandemic news on the cryptocurrency market: evidence from nonlinear autoregressive distributed lag approach and frequency domain causality," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-58, December.
    6. Mustafa Özer & Serap Kamisli & Fatih Temizel & Melik Kamisli, 2022. "Are COVID-19-Related Economic Supports One of the Drivers of Surge in Bitcoin Market? Evidence from Linear and Non-Linear Causality Tests," Mathematics, MDPI, vol. 11(1), pages 1-24, December.
    7. Manoel Fernando Alonso Gadi & Miguel-Angel Sicilia, 2022. "Analyzing Safe Haven, Hedging and Diversifier Characteristics of Heterogeneous Cryptocurrencies against G7 and BRICS Market Indexes," JRFM, MDPI, vol. 15(12), pages 1-13, December.
    8. Ebuh U. Godday & Nuruddeen Usman & Afees A. Salisu, 2022. "Testing for unemployment persistence in Nigeria," Economic Change and Restructuring, Springer, vol. 55(4), pages 2605-2630, November.

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    More about this item

    Keywords

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    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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